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Daily roundup: Les Miserables The Arena Spectacular coming to Singapore March 2026, waitlist now open — and other top stories today, World News

Daily roundup: Les Miserables The Arena Spectacular coming to Singapore March 2026, waitlist now open — and other top stories today, World News

AsiaOnea day ago

Stay in the know with a recap of our top stories today.
1. Les Miserables The Arena Spectacular coming to Singapore March 2026, waitlist now open
Musical fans, you're in for a treat.
Les Miserables The Arena Spectacular - a large-scale version of the acclaimed Les Miserables musical, which played over 200 performances in the West End - is coming to Singapore in March 2026, announced Base Entertainment Asia today (June 12)... » READ MORE
2. No significant impact to travellers after Jetstar Asia closure, say analysts
Travellers will not be significantly impacted with the impending closure of Singapore-based low-cost carrier (LCC) Jetstar Asia, aviation analysts have said... » READ MORE
3. Popular Holland Village eateries Crystal Jade La Mian Xiao Long Bao and Wala Wala Cafe Bar to shutter
When it comes to popular eateries at Holland Village, two places that probably often come to mind are Crystal Jade La Mian Xiao Long Bao and Wala Wala Cafe Bar.
But after decades of operations, both establishments are set to shutter... » READ MORE
4. 'I thought I was a forgotten actress': Apple Hong touched by supporters' messages after Star Awards' popularity nomination
When Apple Hong received a congratulatory text from her BFF, actress Priscelia Chan, about two weeks ago, she was puzzled.
"I was having dinner outside when Priscelia texted me, saying, 'Hey Apple, congrats, we can go together.' Then I was like, 'What congrats? Go together where?'" the 46-year-old actress recounted in a recent interview with AsiaOne. ... » READ MORE
editor@asiaone.com

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Alibaba movie unit's pivot, rebrand bring US$2 billion value gain
Alibaba movie unit's pivot, rebrand bring US$2 billion value gain

Business Times

timea day ago

  • Business Times

Alibaba movie unit's pivot, rebrand bring US$2 billion value gain

DAMAI Entertainment Holdings, formerly Alibaba Pictures Group, is shifting its focus from movies production to faster-growing entertainment segments targeting younger consumers – and investors are taking notice. Since its May 19 earnings report, which highlighted a pivot towards intellectual property (IP) licensing and live events, the company's shares have roughly doubled, making it the top performer on Hong Kong's Hang Seng Composite Index and adding US$2 billion in market valuation. Several analysts have since upgraded their outlooks. The rebrand to Damai Entertainment, effective this month, reflects this broader focus. While its core film production business shrank, Damai still posted double-digit growth in both sales and profit for the fiscal year ended Mar 31 – driven by its IP merchandising and live entertainment arms. The Damai name, originally tied to its concert and event unit, now represents the company's alignment with China's 'new consumption' trend. Young consumers are increasingly drawn to tech-driven, emotionally engaging experiences, and Beijing is encouraging more spending to boost the economy. The name change and strategic shift are a 'turning point', signalling Damai's ambition to become a more well-rounded offline entertainment provider, Citigroup analysts said in a note. The stock has already surpassed Citi's HKD$0.92 target and China International Capital's revised HKD$0.98 target. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Still, Damai remains a penny stock with notable risks. Its film and TV segment shrank 9.6 per cent last year, and content investment remains volatile. Citi maintains a 'Buy/High Risk' rating, citing margin uncertainties. Its valuation has also become high, according to Shen Meng, a director at Beijing-based Chanson & Co. 'Short-term stock price fluctuations increase valuation risks,' he said. The stock is trading at nearly 29 times its forward earnings estimates, far above a ratio of around 10 for the Hang Seng Index, data compiled by Bloomberg showed. But he believes the pivot towards younger consumers is smart: 'Young people have a longer consumption cycle.' Pokemon and Sanrio The move is already playing out. Gen Z's spending on hobby goods and celebrity merch has fuelled stock surges for companies such as Pop Mart International Group and Bloks Group – and now Damai. The IP merchandising unit, including the sub-licensing business AliFish, partners with brands such as Pokemon, Sanrio, and Chiikawa, and sub-licenses them to merchants. The unit's revenue grew 73 per cent last year. The Citigroup analysts call AliFish 'the nation's largest IP licensing agent' and the 'young people's underlying supplier for IP merchandising'. Meanwhile, Damai's live entertainment business – concerts, festivals, exhibitions – saw a 236 per cent revenue jump. It also runs a major ticketing platform and expects more growth from international concert sales. 'Entertainment in China has strong, diverse demand,' Shen said. 'If one has liked something since childhood, they will basically always like it.' BLOOMBERG

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